Correlation Between Cint Group and ALM Equity
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By analyzing existing cross correlation between Cint Group AB and ALM Equity AB, you can compare the effects of market volatilities on Cint Group and ALM Equity and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Cint Group with a short position of ALM Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cint Group and ALM Equity.
Diversification Opportunities for Cint Group and ALM Equity
-0.41 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Cint and ALM is -0.41. Overlapping area represents the amount of risk that can be diversified away by holding Cint Group AB and ALM Equity AB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ALM Equity AB and Cint Group is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Cint Group AB are associated (or correlated) with ALM Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ALM Equity AB has no effect on the direction of Cint Group i.e., Cint Group and ALM Equity go up and down completely randomly.
Pair Corralation between Cint Group and ALM Equity
Assuming the 90 days trading horizon Cint Group AB is expected to generate 4.19 times more return on investment than ALM Equity. However, Cint Group is 4.19 times more volatile than ALM Equity AB. It trades about 0.02 of its potential returns per unit of risk. ALM Equity AB is currently generating about -0.23 per unit of risk. If you would invest 1,293 in Cint Group AB on September 4, 2024 and sell it today you would earn a total of 7.00 from holding Cint Group AB or generate 0.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cint Group AB vs. ALM Equity AB
Performance |
| Timeline |
| Cint Group AB |
| ALM Equity AB |
Cint Group and ALM Equity Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cint Group and ALM Equity
The main advantage of trading using opposite Cint Group and ALM Equity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cint Group position performs unexpectedly, ALM Equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ALM Equity will offset losses from the drop in ALM Equity's long position.| Cint Group vs. Kancera AB | Cint Group vs. Terranet AB | Cint Group vs. Divio Technologies AB | Cint Group vs. Cantargia AB |
| ALM Equity vs. Lundin Mining | ALM Equity vs. AcadeMedia AB | ALM Equity vs. Redsense Medical AB | ALM Equity vs. 24SevenOffice Scandinavia AB |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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